Meland, Russin & Budwick partner Mark Meland closed the $7.5 million purchase of some of the units at a condominium west of Delray Beach. New York-based multifamily property investor ESG Kullen bought 93 of the 275 units at the Murano of Delray Beach at 15005 Michelangelo Blvd. southwest of Atlantic Avenue and Jog Road.

The tax reform proposal unveiled this week in Washington calls for capping the interest expense deduction for residential mortgages at $500,000 rather than the current $1 million. Deductions would be allowed only for primary residences. How could that affect South Florida’s real estate market, one of the region’s biggest employers?

A large portion of the units in the Monteverde at Renaissance Commons condominium in Boynton Beach have sold in a bulk deal for $17.88 million. Of the 267 units in the building, at 1625 Renaissance Commons Blvd., 118 were owned by 1625 Monteverde LLC, an affiliate of New York-based Delma Properties.

The sale of a Miami residential property was scheduled to close Sept. 8. The sale of a home in the exclusive Ocean Reef Club in Key Largo was to close Sept. 15. And the sale of Boynton Beach condominiums was to close Sept. 22.

To listen to real estate developer Todd Michael Glaser describe the Miami market, building modern luxury homes has never been more lucrative, and in demand — as long as those homes aren’t being built on the water.

A Chicago horror novelist now has a new setting for his books. Jeremy Wagner, a death metal guitarist turned horror book writer, and his wife Kym Foglia paid $10.9 million for the newly built waterfront home at 6411 Allison Road in Miami Beach, a source told The Real Deal.